CORADINO JOSEPH F 4
4 · PENNSYLVANIA REAL ESTATE INVESTMENT TRUST · Filed Apr 4, 2022
Insider Transaction Report
Form 4
CORADINO JOSEPH F
DirectorPresident, PREIT Services, LLC
Transactions
- Exercise/Conversion
Restricted Share Units
2022-03-31−266,775→ 533,548 total→ Shares of Beneficial Interest (266,775 underlying) - Exercise/Conversion
Shares of Beneficial Interest, par value $1.00 per share
2022-03-31+266,775→ 1,033,051 total - Disposition to Issuer
Shares of Beneficial Interest, par value $1.00 per share
2022-03-31$0.64/sh−266,775$169,455→ 766,276 total
Footnotes (2)
- [F1]Consists of restricted share units ("RSUs") granted on May 12, 2021 pursuant to a Restricted Share Unit and Outperformance Unit Award Agreement (the "Award Agreement") in connection with entry into an amended and restated employment agreement. Each RSU will be settled in cash in an amount equal to the fair value of a share of Beneficial Interest of the issuer, par value $1.00 per share (a "Share"), on the applicable vesting date, multiplied by the number of RSUs that vest on such date. For purposes of this Form 4, the cash settlement of the vested RSUs has been presented as the conversion of the vested RSUs into Shares and the simultaneous disposition of Shares to the issuer for cash.
- [F2]800,323 cash-settled, time-based RSUs were granted pursuant to the Award Agreement, with the RSUs vesting in three equal annual installments beginning on March 31, 2022.